Director Shareholding

Scottish American Investment Co PLC
18 January 2001

Schedule 11 - Notification of interests of Directors and Connected Persons

1 Name of company:

The Scottish American Investment Company PLC

2 Name of director:

Mr Barry E Sealey

3 Please state whether notification indicates that it is in respect of holding
of the director named in 2 above or holding of that person's spouse or
children under the age of 18 or in respect of a non- beneficial interest:



4 Name of registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified):



5 Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s):



6 Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary:

Monthly purchase through SAINTS Savings Scheme

7 Number of shares/amount of stock acquired:

309 Shares on 4th January 2001 at £2.53

8 Percentage of issued class:



9 Number of shares/amount of stock disposed:



10 Percentage of issued class:



11 Class of security:

Ordinary 25p Shares

12 Price per share:

As above.

13 Date of transaction:

As above.

14 Date company informed:

16th January 2001

15 Total holding following this notification:



16 Total percentage holding of issued class following this notification:



If a director has been granted options by the company, please complete the
following fields:

17 Date of grant:



18 Period during which or date on which exercisable:



19 Total amount paid (if any) for grant of the option:



20 Description of shares or debentures involved: class, number:



21 Exercise price (if fixed at time of grant) or indication that price is to
be fixed at time of exercise:



22 Total number of shares or debentures over which options held following this
notification:



23 Contact name for queries:

As above.

24 Contact telephone number:

0131 473 2200

25 Name of company official responsible for making notification: